WISCONSIN REAL ESTATE ALUMNI Vol. 26 Issue 1 Spring 2012 ASSOCIATION Newsletter of the Wisconsin Real Estate Alumni Association

In this Issue The Economic Tightrope

 Deals in the News Biennial Wisconsin Real Estate Conference  President’s Message he 2012 Biennial Wisconsin Real Estate Conference will return to Madison  UW Program Update TSeptember 13-15. This year’s program, Economic Tightrope, chaired by alumnus, Brian Eisendrath (BBA 2000), tackles today’s pivotal topics. Beginning on Thursday  Scholastic Awards September 13th, the conference is held at the Madison Concourse Hotel and at the new Union South at the University of Wisconsin Madison Campus. From winning strategies  Real Estate Club Update to cinch success, to economic analysis, the conference will provide attendees with tools to confront a still delicate market.

 Honor Roll UW Athletic Director Barry Alvarez, with the most wins  Names in the News and longest head coaching tenure in Badgers football history, will help kick off the $ conference at the Thursday Gold Partner evening banquet with his talk, Winning Strategies for Success. Friday’s professional development slate will begin with an interactive session with Bob Rice, Managing Partner of Tangent Capital. Bob will provide a rapid-fire tour of the latest developments in behavioral economics and game theory, and talk about The Equity Kicker is how this information applies to the very real business world. In addition, concurrent published biannually by the panels address cap rate arbitrage and increasing capital allocations to real estate. CNBC Wisconsin Real Estate Alumni Senior Analyst and Financial Industry Expert, Ron Insana, talks about key economic Association, Inc. for the issues for Main Street and Wall Street during the Alumni Luncheon. A contributing writer benefit of its membership. for Money Magazine and USA Today, Insana was also CEO of Insana Capital Partners. Starting his business journalism career in 1984 at CNBC, he has interviewed Warren President Buffett, Bill Gates, the late Steve Jobs, and Presidents Bush and Clinton. Jeffrey Cavanaugh Invesco Real Estate Friday afternoon will feature a final set of concurrent panels with one focusing on Newport Beach, CA opportunities for multi-family developers, and a second focusing on survival and recovery stories resulting from the recent financial crisis. A WREAA Speed Networking Executive Director and Editor Session will follow the panels, bringing together UW Madison students and alumni, Christine Dicks where students learn to make good first impressions by interacting with industry WREAA, Inc. professionals. The day will conclude with a networking reception at Union South. Pewaukee, WI Football tickets are available for the September 15th game, so that fans may cheer the Badgers on to a win against Utah State University. WREAA WISCONSIN CONNECTION FUND Board of Directors Deals in the News Executive Committee President 2011 Deal of the Year Award Jeffrey Cavanaugh (949) 222-6384 Vice President Wisconsin Robert Perry (952) 984-3251 Secretary/Treasurer Connections Lead Gary Duff (310) 788-2253 Executive Director to Financing Christine Dicks (262) 746-9030 Deals

Directors lumnus Brian Eisendrath Colorado/Texas A(BBA 2000) has been Dan Metzger (303) 953-3844 selected as the recipient of the Northeast 2011 Deal of the Year Award. Brian Berry (202) 420-2180 CBRE’s multifamily finance Illinois team, led by Brian Eisendrath, Matthew Ewig (312) 845-8599 financed 10 properties totaling Minnesota $150,000,000 for The Bascom Group in 2011. The assets were located in Denver and Steven Buss (952) 924-4618 Southern California Dallas. Bascom alumni include Jerry Fink (MBA 1990), Dave Kim (BBA 1989), Derek Alan Carmichael (949) 509-5006 Chen (MBA 1991) and Chad Sanderson (MS 2004). A generous donation was made to Northern California the Wisconsin Connection Fund in the name of these Wisconsin related transactions. Brandon Buza (415) 956-3100 Pacific Northwest James Geimer (206) 971-0161 Eastern Wisconsin Kristine O’Meara (414) 443-0700 Alumni Team Up in Acquisition and Financing of Western Wisconsin Industrial Property Portfolio Mike Hershberger (608) 240-2390 Southeast n April 2012, Zilber Tyler Edgarton (404) 601-9500 IProperty Group purchased At-Large Director - Membership four fully leased industrial Shari Crivello (630) 250-2910 buildings located in At-Large Director - Student Interface Southeast Wisconsin totaling Sharon McCabe (608) 890-2493 At-Large Director - Recent Graduate approximately 600,000 Gretchen Frankenthal (972) 387-5420 square feet. BMO Harris At-Large Director Bank provided the acquisition Jonathan Block (212) 381-4150 financing. The seller was Immediate Past President represented by Colliers Gary Dreher (952) 278-0114 International in Milwaukee. The deal involved UW real Wisconsin Real Estate estate alumni Austin Mautz Alumni Association, Inc. (BBA 2000) and Daniel Sell (BBA 2008) from BMO Harris Bank, and Tom Shepherd (BBA 2002) from Colliers P.O. Box 307 Pewaukee, Wisconsin 53072 International. Other UW-Madison alumni involved in the deal included Alicia Kopp from Website: www.wreaa.org BMO Harris Bank and Mike Powers, Tom Bernacchi, Cathi Hockers, Mike King and Telephone: (262) 746-9030 Robert Braun from Zilber Property Group. BMO Harris Bank made a donation to the Fax: (262) 746-9031 Wisconsin Connection Fund in the name of the deal.

To make a donation to the Wisconsin Connection Fund, please contact the WREAA Office at (262) 746-9030 or visit our website at www.wreaa.org and follow the link to Giving Back/Wisconsin Connection Fund.

2 President’s Message Jeff Cavanaugh, President

reetings The market research project that I of Business to take a leadership role Gfrom mentioned in the last Equity Kicker is in the transformation of the delivery California. It now officially underway. Proposals were of education. The real estate program, is very hard received from three different firms and along with the entire business school, to believe working in concert with the James A. will benefit tremendously from the that we are Graaskamp Center For Real Estate one technological and management already near the firm was selected, the scope of work innovations that this Fund will support. halfway point established and a contract executed. The We recognize that our program’s future in the year. project is now underway and it is our hope is inextricably linked to the School It seems like to be able to share the results with you at of Business and that by supporting just yesterday the Biennial in September. To reiterate, and advancing, both in substance and that a big the purpose of this project is to survey in reputation, the business school we group of real estate alums were gathered various constituents and stakeholders from advance and support the real estate outside the Rose Bowl for a pre-game the real estate program, the Center and program. As the largest and most tailgate with visions of another Badger the WREAA to better assess our strengths organized alumni group within the victory. A quick five months later and and weaknesses, determine which services School of Business the WREAA has an the spring semester is over in Madison, our constituents value most, measure opportunity to take a leadership role in the kids are out of school and people are the awareness of the program within the this critical effort and set an important looking forward to summer vacations. broader real estate community and finally precedent for other alumni groups from Thinking about how fast time passes these to help create and implement a strategy the school as well. days I realize how quickly our Biennial to promote and advance the real estate Conference is approaching. Conference program, the Center and the WREAA. Finally with the recent school year coming Chair Brian Eisendrath and the Board’s Survey respondents will include current to an end I’d like to remind everyone of conference committee have been working and prospective students, alumni, Center the incredibly competitive job market that very hard to put together the best program board members, and other industry all our current grads are facing. Please do that we’ve ever had. Scheduled for professionals. While the real estate what you can to help our newest alumni September 13-14 at the beautiful new program at the University of Wisconsin is network and connect with potential Union South (the Memorial Union will second to none in terms of the depth and employers in your markets. Employment be under renovation) you can expect an quality of course offerings, faculty and support has always been one of the incredibly strong group of speakers and staff, and also has an incredible legacy in hallmarks of the WREAA and during panelists focusing on an array of issues real estate education, there is no question these times your help is needed more than confronting the real estate community that the competitive landscape has ever. during these uncertain times. We’ll changed dramatically over the last twenty focus on which investment strategies years. The sheer number of competing Before closing, I’d like to thank Ashley are attracting capital, hear survival and programs and the ability of many of these Jenkins for her service in the At Large recovery stories from the global financial programs to attract capital due to their Director - Recent Graduate position on the crisis, examine the pros and cons of proximity to money centers around the WREAA Board. Gretchen Frankenthal coastal versus non-coastal investing, and country compel us to raise our game in (BBA 2008) of Behringer Harvard has take an in depth look at the multi-family terms of promoting the extraordinary been elected to the position, and we development pipeline and the implications advantages of our great program, Center welcome her to the Board. for what has been the best performing and alumni network. Have a wonderful and productive summer property sector. Among a number of and I’ll see you in Madison in September. great keynote speakers, you’ll hear from The Board is currently evaluating making a meaningful contribution on behalf of Ron Insana, a top business and finance On Wisconsin! the WREAA to Dean Ortalo Magne’s journalist with CNBC on the business Jeff Cavanaugh implications of this year’s election cycle Innovation Fund (see Dr. Malpezzi’s and the political climate in Washington. update herein) which will help to provide Attendance is expected to be very strong the human and technological resources this year so register early. needed to allow the Wisconsin School

3 An Update on the Real Estate Program

inals are finished, papers are polished, estate finance and related asset markets, new technology takes hold: you don’t Fgrades have gone in! I write you at specifically the repo market. While he’s need to come to Madison to learn how the end of another successful semester, just getting started, he’s already got a fine to compute a mortgage balance (though and academic year, for the Real Estate paper coming out in the top-level Journal we’ll certainly teach you that while you’re Program and for the Wisconsin School of of Economic Theory explaining a better here!) It’s within the experiential elements Business. way to model this key market, all while that our true competitive advantage lies. receiving top teaching scores. He’ll be Much of what sets a Wisconsin real estate Along with the spreadsheets, ARGUS teaching introductory real estate finance education apart has been the projects runs, projects and papers that mark a to our undergrads this year, and advanced and hands-on courses in development semester, we had a number of special real estate finance to our Masters students. and valuation, the field trips and real events and accomplishments. You’ll read estate club and WREAA activities, that about some of them, including a first rate Another claim I made in the last issue complement more “traditional” academic field trip to Boston, in the Real Estate was that Dean François Ortalo-Magné approaches. Where could you better learn Club’s contribution to this newsletter. had hit the ground sprinting. I can about the links between real estate and report he’s kept up the pace! Many of I hope you’re not bored with reading the macroeconomy than when Morris you have watched his wrap-up keynote about the success of our case study Davis brings his research on this topic to address at MIPIM in Cannes, France teams. Last semester I told you of our the classroom, or about the strategy for in March (available through the WSB students’ excellent showing at Cornell. mortgage workouts when Tim Riddiough website). He’s been meeting many This semester the team of Cameron Carey, does the same? Some things, like learning alumni and other stakeholders in Chicago, Amanda Frankwick, Ryan Howard, about our Program’s values, really only San Francisco, Boston, Minneapolis, Kimberly O’Connor, Michael Serposs and take hold if the student (and the alumnus!) Pasadena, Milwaukee and New York as Ruicong Xie took first place among the sees them successfully put in practice. well as France and China. Just this month six teams competing in the 2012 NAIOP And in you, the WREAA, we have the he was the featured speaker at Founder’s University Challenge in Minneapolis; and perfect vehicle to make sure that the time Day activities in Cincinnati, speaking on the team of Beau Garot, Laura Bodine, spent in Madison is the beginning, not the “Higher Education - Shaping the Future as Alex Neubauer, Stephen Rothstein, end, of your real estate education. Pioneers in Business Education.” Max Sternberg and Jan Van Eerden took But we cannot afford to pat ourselves on first place among eight fine teams in The title of that talk tells you about one the back, when the pace of innovation the 2012 USC International Real Estate of François’ key initiatives, to rethink and is picking up, in business and real estate Competition in Los Angeles. Our MBA retool what we at the Wisconsin School of education as in our industry. That’s why students were also active this semester: Business do on the educational front. I’ve it’s so important that our Dean has been Andrew Boespflug, Chad Broderick, Tess taught here for over two decades now, and mobilizing faculty and also actively Gruenstein and Andrew Toby entered the while the content has certainly evolved, recruiting support for an innovation fund 29-team MIT Case Study Competition, the methods of delivery have only to help Wisconsin meet that future. Real and did very well, making it into the semi- changed on the margins – until recently. I estate alum Milo Pinkerton not only final round, just missing the final round of am sure François has it right that with new provided the School with a generous gift 3. Congratulations to all the students, and instructional technology, sharply changing to kick off this effort, school-wide and also to “Coach Q,” Arif Qureshi, for jobs demands from the real estate marketplace, within our Program, but has also been well done. and a new breed of student, we’re now on instrumental in attracting additional the cusp of a true revolution in how we In the last I told you we supporters. Equity Kicker, deliver real estate and business education. were in the hunt for that next outstanding Wisconsin is well placed to pioneer these We started work last year on a number faculty member to foster the Wisconsin innovations, partly because a major part of of curricular initiatives, at both the Real Tradition, someone with the potential our tradition has always been experiential Estate and School levels, that will start to produce the great research, teaching learning, and partly because we’ve always to bear fruit this fall. For example, and service that can change the world of emphasized the connections between within the Real Estate program, we’ve real estate for the better. I’m extremely cutting edge research and cutting edge upgraded some of the technical level pleased that Dr. Jaime Luque, currently a teaching. of the valuation course, while retaining visitor at Carlos III University of Madrid, the critical experience of applying that will join us in September as an assistant Some elements of real estate education knowledge to a real-world project. We’ve professor. His research focus is on real could become commoditized as the

4 developed new research-based material on neurons loose; they certainly helped get a the spatial form of the built environment, lively discussion going! Wisconsin Real Estate and on sustainable real estate. This week we brainstormed about how to improve So we have a very busy summer ahead, as Conference Sponsors our teaching of market analysis. On the we innovate on the teaching front, move delivery front, Milo’s gift will help us our research agenda ahead, and spread the Event Sponsors upgrade how we present some of the Wisconsin Idea. By the time you read this, material. These changes will be about we will have held our annual Wisconsin substance as well as form; it will surely Real Estate and Economic Outlook look more professional, but we’ll also be Conference, themed “Building a Housing expecting students to watch more of the Policy that Works,” including keynotes lecture material online, freeing up more by Wellesley’s Chip Case (of Case-Shiller class time for discussion and interaction. housing index fame), National Association Of course, there’s no reason innovation of Realtors Chief Economist Lawrence can’t be fun as well as productive. Yun, and our own Morris Davis. I hope I see you there, but either way, I’ll see you Recently Morris enticed special guest in September at the Biennial! lecturer Michael Leckrone (and some members of the UW Marching Band) to On Wisconsin! his economics class to help shake the Steve Malpezzi, Department Chair

Rewarding Excellence WREAA Graduate and Undergraduate Scholarship Awards Patron Sponsors This year’s scholarship winners are Andrew Boespflug of the $5,000 WREAA Graduate Scholarship and Amanda Frankwick of the $2,000 WREAA Undergraduate Scholarship. Recipients are selected by a Scholarship Selection Committee who evaluate each candidate’s leadership potential as reflected in their application answers and in a one page essay. Congratulations to this year’s recipients!

Andrew Boespflug, an MBA student graduating in 2013, competed in the 2012 MIT CASE competition and is active in the UW Real Estate Club. His experience includes working as a commercial real estate appraiser for Colliers International Valuation in Portland, Oregon and Vancouver, Washington. Andrew is committed to improving the community through sustainable, well designed health care real estate.

Amanda Frankwick, a BBA student graduating in 2013, participated on the UW- Madison team in the 2012 NAIOP case competition, winning first place. Her experience includes internships with Robert W. Baird and Co., Inc. and Her Own Words, LLC. Amanda plans to use her experience as an equity research analyst intern to work on an equity research team covering REITs.

Dianne Orbison Memorial Real Estate Scholarship Award Lindsey Hoffman is the recipient of the $5,000 Dianne M. Orbison Memorial Real Estate Scholarship Award. The award criteria include community service, enterprise management skills, leadership, curiosity, love of learning, sense of humor, common sense, and the ability to rise to a challenge. Applicants submit an essay which is evaluated by the scholarship committee in light of the established criteria. Lindsey, a BBA student graduating in 2013, recently completed study abroad in Barcelona, Spain. Lindsey’s experience includes an internship with Capstar Commercial Realty in Gaithersburg, Maryland. She wants to take the ideas of city development and urban planning and achieve smart growth and smart city planning through environmentally sustainable means.

5 Real Estate Club Update

Chad Broderick and Mark Hammond Walk, who talked about his internship and the Seaport, alum Paul Gilbert Real Estate Club Co-Presidents experience in the acquisitions group. was able to provide us with a behind It was a great opportunity to see how the scenes tour of the Isabella Stewart his was another successful semester a global firm runs real estate investing Gardner Museum’s new addition. Students Tfor the Real Estate Club. Highlighted across both public and private markets. were also able to enjoy some local cuisine, by our club trip to Boston, this semester having group receptions at The Hampshire also brought great speakers and events Jim Valente was the Club’s final speaker House (Cheers Bar) and Legal Sea Foods. to our members. We are also excited to for the year, visiting from Investment Many thanks go to Jill Hatton and Bob welcome a new executive board to the Property Databank (IPD) in Chicago. Schneiders who were integral in the Real Estate Club for the Fall semester, As IPD looks to increase the size of its planning of the trip, in addition to all of including Co-Presidents Rob Larson and Chicago office, Jim is eager to grow its the other alums whose generous support Rob Korslin. relationship with the UW Real Estate made the trip possible. program, and sees the real estate club as a Club Speakers great vehicle to accomplish that mission. The Real Estate Club also was active Our speakers this semester came from a His presentation not only enlightened outside of our speaker series and market variety of backgrounds, exposing students students on IPD’s business, but also tour. Volunteer Coordinator Courtney to a wide range of experiences. Brad demonstrated the importance of using Flanders did an excellent job running Olsen, of Atlantic Partners, started the appropriate benchmarks to assess the the Habitat for Humanity Day, and semester off with a broad discussion of results of investors and advisors alike. participated in the unveiling ceremony in global financial news and its relation to the house that the Club’s members helped We would like to give a special thanks to real estate. He helped students prepare build. Stephen Rothstein got students Mike Brennan, Executive Director of the for the Club’s upcoming Career Fair, by involved in a Fantasy REIT league, which Graaskamp Center, and Sharon McCabe, discussing career options and networking placed students against one another by MBA Director of the Graaskamp Center, strategies. The night also provided the investing in a mock portfolio of REIT for their support in helping us to arrange opportunity for Brad to reconnect with stocks. The year ended strong with the this semester’s speakers. students he met at the MIPIM and Expo Club’s golf outing at University Ridge and REAL conferences. a dinner at Steenbock’s on Orchard – both events were orchestrated by outgoing This year’s Innovator Award, Social Chairs Abby Cain and Jane Van co-sponsored by the Real Estate Eerden, and generously sponsored by the Club and The Graaskamp Center WREAA. for Real Estate, brought Colliers International Global President The real estate club continues to provide and CEO Doug Frye to Madison. students with practical knowledge and Doug showed students how experience with current topics in the he has been able to grow the industry while cultivating long-lasting company to one of the world’s relationships with both real estate largest real estate services firms students and alumni. Thank you to the in the last ten years. He was also faculty, alumni, and others who make able to share insights he gained the club possible and have supported from the World Economic Forum he Boston Trip the Real Estate Club this semester. Your participation and generosity allow those attended. The Club traveled to Boston for their students most interested in real estate to spring trip where students were able to Principal Real Estate Investors, based pursue their passion and gain valuable visit a variety of projects and become out of Des Moines, spoke to the Club in experience and knowledge that cannot be familiar with the city’s submarkets. March about their investment strategy taught in the classroom. We extend a big Some of the highlights included meetings and presented a couple of case studies thanks to Chris Dicks and the WREAA for with Jones Lang LaSalle, the Boston on assets in New Jersey and Texas. their continued support and commitment Redevelopment Authority, Tishman Brian Sheriff and Jared Zatloukal led the to the Real Estate Club. Speyer, Forest City, and CBRE. In presentation, but were accompanied by addition to our visits to East Cambridge current student and Principal intern David On Wisconsin!

6 Honor Roll

Cornerstone Members Sustaining Members

1970’s 1970’s Robert Ryan, MS 1989 Bruce Johnson, MS 1972 Michael Feiner, MS 1970 Robert Schwarz, MS 1989 David Lenz, BBA 1973 Jack Safar, MBA 1970 Stephen Bye, MBA 1974 Ray Anilionis, MS 1971 1990’s Paul Gilbert, MS 1974 Michael Cantwell, BA 1972 Christopher Charnas, MS 1990 Thomas Klein, MS 1974 C. J. Raymond, MS 1972 Aaron Goldman, BBA 1990 Wendell Kurtz, BBA 1978 Sam Opresik, BBA 1973 Timothy Pire, MS 1990 Kim Miller, MS 1979 Gregory Schmitt, BBA 1973 Derek Chen, MBA 1991 Milo Pinkerton, MS 1979 Arun Bhatia, MS 1974 Michael Conaghan, MS 1991 Malcolm Sina, MS 1979 Jon Hammes, MS 1974 Howard Paster, BA 1991 Brad Calbert, BBA 1975 Michelle Bella, MS 1992 1980’s David Clark, MS 1975 John Ehle, BA 1992 Dale Gruen, MS 1980 V. Michael Komppa, MS 1975 Daniel Fitzgerald, BBA 1992 Arthur Pasquarella, MS 1980 Jeffrey Davis, MS 1976 Sharon McCabe, MS 1992 Michael Arneson, MS 1982 Mark Schmidt, MS 1976 Joseph Walsh, MS 1992 Jeffrey Cavanaugh, MS 1983 Michael Samuels, MS 1979 Bret Backus, MS 1994 Jon Spoerri, MS 1983 Sunny Tong, MS 1979 Steven Buss, MS 1994 William Evans, MS 1984 Thomas Craig, MS 1994 Michael Hoffmann, MBA 1985 1980’s Gary Duff, Jr., MBA 1994 Michael Gerdes, MS 1986 Timothy Carew, MS 1980 David Desforges, MBA 1995 Paul Rezents, MS 1986 Thomas McCahill, MS 1980 Wenzel Hoberg, MS 1995 Roy Splansky, MS 1986 Craig Manske, MS 1981 Brett Matzek, BBA 1995 Charles Murphy, MS 1987 Richard Schaller, MS 1981 Paul Melkus, MS 1995 John Stathas, MS 1987 Robert Aldrich, MS 1982 Janine Punzel, BBA 1995 Gregory Reed, MS 1988 Charles Carpenter, MS 1982 Shari Crivello, MS 1996 Jeffrey Rotter, MS 1988 Marc Cella, MS 1982 Matthew Ewig, BBA 1996 Rod Engel, MS 1989 Peter Gloodt, MS 1982 Robert Mesner, MS 1996 David Kim, BBA 1989 Jill Hatton, MS 1982 Brandon Buza, MS 1997 Robert Bond, MS 1983 Jaime Fink, MS 1997 1990’s Charles Heath, MS 1983 Fredric DeVillers, MBA 1998 Jerome Fink, MBA 1990 Stephen Rozga, BS 1983 Matthew Lund, MS 1998 Alan Rudikoff, BA 1991 Christopher Casey, MS 1984 Steven Mathison, MS 1998 Robert Perry, MS 1992 Susan Schnoll, MS 1985 Brandon Megal, BBA 1998 Patrick Waite, MS 1992 Stuart Zadra, MS 1985 Daniel Metzger, BBA 1998 Scott Haskins, MS 1993 Stephen Cortese, MS 1986 Sean Phelan, MS 1998 Duane Lund, MS 1993 Mark Ebacher, MS 1986 Robert Gersch, BBA 1999 Joseph Wagner, MS 1996 Michael Hines, BA 1986 Ryan Mallery, BBA 1999 Jeff Lenz, MS 1997 Kevin Coffey, MS 1987 Daniel Rikkers, BBA 1999 Andrew Weir, MBA 1997 Scott Dixon, MS 1987 Susan Chapman, MBA 1998 R. Tyler Edgarton, BBA 1987 2000’s Jonathan Block, BBA 1999 Brett Grasse, BA 1987 Shannon Bauer, BBA 2000 William Huberty, MS 1987 Brenton Rogers, BBA 2000 2000’s Andrew Kerwin, BBA 1987 Samuel Ankin, BBA 2002 Brian Eisendrath, BBA 2000 John Kiernan, MS 1987 Shampa Bhattacharya, MS 2002 Kevin Page, BBA 2000 Daniel Levitt, MS 1987 James Graham, MS 2002 Marc Freschl, BBA 2001 Rita Spence, MS 1987 John Hoffman, MBA 2003 Stewart Kirkham, MBA 2003 Michael Hershberger, MS 1988 Josh Jeffers, BBA 2003 Arif Qureshi, MS 2004 Howard Levy, MS 1988 Martin O’Connor, BBA 2003 Scott H. Miller, MS 1988 Greggory Applefield, BBA 2004 Timothy Richey, MS 1988 Ryan Freedman, BBA 2004 Affiliate Members John Rigler, BBA 2005 Stuart Ackerberg, Friend of Program Jim Ring, MS 1988 Peter Deanovic II, BBA 2006 Nicholas Howard, Friend of Program Dominic Visconsi, Jr., MBA 1988 Ariel Litvin, MBA 2006 Stephanie Park, Friend of Program James Cope, MS 1989 Kevin Crummy, MS 1989 Matthew Olson, BBA 2006 Robert Derse, MS 1989 Adam Cibik, MBA 2007 Robert Karner, MS 1989 James Mazzarelli, MS 1989

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Names in the News is a regular Names in the News feature of the Equity Kicker. Please submit news of your promotion, change in employer, Dan Gobis (BBA 2012) has joined David Godin (BBA 2012) has joined Members Capital Advisors/CUNA Prime Finance as an Analyst in Kenosha, or address change for inclusion to WREAA, Inc., P.O. Box 307, Mutual Group as an Analyst in Madison, Wisconsin and can be reached at djgodin@ Pewaukee, WI 53072 or by email Wisconsin and can be reached at gobis@ gmail.com. to [email protected]. wisc.edu. Scott Latter (BBA 2009) has joined Colliers International has added Inland EnTrust Realty Advisors/EnTrust Ari Kahan (BBA 2011) has joined Companies’ brokerage and property Healthcare Properties as a Real Estate California Landmark Group in Los management divisions to its global Analyst in Lombard, Illinois and can be Angeles, California and can be reached at operations. Tom Shepherd (BBA 2002) reached at [email protected]. [email protected]. is Partner-Wisconsin and Joe Lak (BBA 2006) is Vice President-Wisconsin. Tom John Simerlein (BBA 2003) has joined Michael Crandall (Affiliate) has joined can be reached at tom.shepherd@colliers. the investment sales team at HFF in the Syndicated Equities as Principal in com and Joe can be reached at joe.lak@ San Francisco office and is focusing on Chicago, Illinois and can be reached at colliers.com. institutional office, industrial and R&D [email protected]. properties in San Francisco and Silicon Beau Garot (BBA 2012) has joined Valley. John can be reached at jsimerlein@ Sean Blitz (BBA 2006) has joined JP Duff & Phelps as a Real Estate Valuation hfflp.com. Morgan as an Associate in Los Angeles, Analyst in DePere, Wisconsin and can be California and can be reached at reached at [email protected]. Jean Samayoa (BBA 2001) has joined [email protected]. CSM Corporation as an Asset Manager Regina Millner (MS 1991) has been in Minneapolis, Minnesota and can be Stephen Rothstein (BBA 2012) has joined appointed to the UW Board of Regents, reached at [email protected]. American Realty Capital as an Analyst in serving a seven-year term. The 18-member New York, New York and can be reached board is the oversight body of the Matthew Rawlsky (BBA 2009) has joined at [email protected]. University of Wisconsin System’s 26 The Situs Companies as an Analyst in New campuses. Regina can be reached at York, New York and can be reached at Jason Brandenborg (BBA 2008) has [email protected]. [email protected]. joined IndCor Properties as an Associate Asset Manager in Chicago, Illinois and can Mark Laverty (BBA 2011) has joined Zachary Kranz (BBA 2010) has joined be reached at jason.brandenborg@gmail. Dominium Development & Acquisitions, Harrison Street Real Estate Capital as an com. Inc. as Development Staff Associate in Associate-Asset Management in Chicago, Plymouth, Minnesota and can be reached Illinois and can be reached at zkranz@ at [email protected]. harrisonst.com.